Chapters
Shownotes Transcript
Can you pick a millionaire out of a crowd just by looking at him? It's harder than you think. As the saying goes, money talks, wealth whispers. I like to whisper too. You probably mingle with the stealthy wealthy every day and don't even realize it. But I kind of wish you did realize it because these quiet millionaires are the financial role models we need out there in the wild. Not some self-published author trying to get you to sign up for their business mastermind or a country megastar throwing innocent chairs around. R.I.P. chair. We're good.
And that's why today I'm sharing 10 silent signs that scream, you're in the presence of a quiet millionaire. And while my voice is raised, I'd like to emphatically ask you to like and subscribe to this channel. Please. All right, the first sign you're in the presence of a quiet millionaire, they're digital ghosts.
Anonymity is the quiet millionaire's luxury of choice. And sure, these economic elites might have an Instagram account, but they're not giving the general public a peek behind the gilded curtain. And why? Because they don't have to. They don't need to peddle collagen bars for a check. They don't need you to validate their fit. And they definitely don't need some scumburger stalker trying to triangulate their location based on their last beach pic. Sometimes all it takes to know the wealthy from the wannabes is a quick social media audit. They're too busy working to be posting.
So clout chasing doesn't always equal moneymaking. Should tweet that. Actually.
Don't, based on my previous advice. Number two, they filter out financial media. Listen, fear is a terrible financial advisor, and quiet millionaires know it. That's why they opt out of the exaggerated articles and speculative reporting being spoon-fed to the masses. And you've seen these headlines. The dollar is crumbling. Buy gold. Markets are tumbling. Inflation is surging. Interest rates are higher than Woody Harrelson on Mount Kilimanjaro. That one I made up, but probably a BuzzFeed article coming soon.
Quiet millionaires know better than to get caught up in that mental spiral. They understand that wealth building is a long game and they have no plans to change their strategy based on some media-made dumpster fire. Number three, they seek wise counsel. Just because quiet millionaires aren't financial news junkies doesn't mean they have their heads in the sand. They just get their info from better sources like financial advisors with a proven track record, lawyers with rare levels of integrity, and business mentors who have done more than read one case study about T-Mobile in their college entrepreneurship class.
Quiet millionaires are willing to admit that as successful as they are, they still need guidance. And in the words of the wisest man who ever lived, in an abundance of counselors, there is victory. And yes, if you're wondering, that's your boy Solomon. Low-key goaded when Quiet Millionaire is the vibe. Rip King. That's why he's the goat!
Number four, they're financially literate. Trying to manage wealth when you don't know how money works is like trying to build a plane while you're in the air. Shout out to Boeing. You tried it. A for effort, F for flying doors. Baby, lock them doors and make sure the bolts are on right. Oh, I heard about that. Now, part of the reason quiet millionaires are millionaires is because they take personal responsibility for their finances. Because if you pass the buck, eventually you'll pass the bucks.
It's that simple. Again, don't tweet that, but it is a good tweet if you were to tweet. Quiet millionaires never invest in or agree to something they don't understand. And they keep their knowledge sharp, they work with a trusted team of advisors, and they make educated decisions. Number five, they've got that elusive quiet confidence.
A quiet millionaire with quiet confidence, it's not redundant, it's thematic. When you commit to a plan for building wealth that's been proven to deliver results over time, you walk with a sort of silent swagger. On the other hand, if you have no plan or a plan you're not sure about, it's almost impossible to feel confident about your financial future. So what's this net worth millionaire plan of choice? The seven Ramsey baby steps, of course. And if you want to learn more, I'll put a link in the description to help you out. Number six, they have an intentional spending plan.
A quiet millionaire never leaves home without their budget. It's the perfect accessory. It goes with every outfit, like a nice bucket hat. Love a bucket hat. I don't wear them, but I like them. Wish I could wear them. I look like a bug. Here, editors, put a bucket hat on me. I'll show you.
That is New York funky style, and yes. Now, if you know me, you know I stan the EveryDollar budgeting app. It's in my phone, and my apps always come with me to and fro. So link below to get started with EveryDollar for free. Be sure to check it out if you want to live like a quiet millionaire. Now, I know you thought budgets were exclusively for mega nerds and broke people, but think again, because think about this. You rarely find a broke nerd.
Hmm. Makes you think. Oh man, the geeks have inherited the earth. Budgets are for intentional people with financial priorities. They don't wish their money goals into existence. And to quote Billy Zane from Titanic, a real man makes his own luck. All
RIP, King. Why wish it when you can will it? It's the third good tweet of the day. Write these down for later. All right, moving on. Number six B, they use our sponsors. All right, I can't prove that quiet millionaires use our sponsors, but I know for a fact that quiet millionaires like to treat their money well and they make their money work harder for them. And there is no nicer place to stash your cash than a high-yield savings account from online bank Laurel Road, one of our sponsors of today's episode.
These accounts have no minimum deposit, no minimum balance, no monthly maintenance fees, and your deposits are FDIC insured so you can rest easy. This is basically a VIP lounge for your cash. Plus, they're offering 5.15% APY right now, which is hard to beat. And as you know, broke people pay interest, wealthy people earn it.
So if you yearn to earn, be sure to check out Laurel Road. Go to laurelroad.com slash george or click the link in the description to get started. And if you really want to act like a quiet millionaire, it is time to minimize that digital footprint. And you can do that with Delete.me, another sponsor of today's video. Delete.me helps protect you from fraudsters, scammers, and internet scum dogs by scrubbing your data from hundreds of data broker websites. It's kind of like your own digital Roomba, but you don't have to empty the bin or clean the dog hair out of the filter.
And they'll even send you an easy to read report showing you how much time you've saved and all the sites they've cleaned your data from. So give yourself the luxury of more privacy with an affordable plan from our friends at Delete Me. Right now, you can get 20% off their plans by going to joindeleteme.com slash George or just click the link in the description below.
All right, back to our list. Number seven, they make freedom their entire personality. Quiet millionaires are serious about their unalienable right to life, liberty, and the pursuit of financial happiness. And that freedom is part of why they're so obsessed with budgets. And one of the ways they protect that freedom is by saying no to debt. Be real. They're not taking out a loan for a Lambo or falling for some 0% interest loan. They're paying for things in cash in full. To a quiet millionaire, there is no purchase worth the price tag of having to answer to a lender. Cash is king, baby.
And no rip to this king because cash is still alive and well in my world. Number eight, they love the simple life. Contentment is the power move of all power moves. And it's exactly how quiet millionaires stay rich. They're not buying stuff to impress you or flaunt their wealth. They don't care what you think. I'm not saying quiet millionaires don't splurge on some select luxury items,
They've earned it, but they don't need a $2,000 Louis Vuitton monogram ping pong set to feel like they've made it in life. And no shade to Louis, RIP King, but ping pong is out. Come on, pickleball is in. Now you get a pickleball Louis set, I might have you some customers. - Hey, you guys ready to play some pickleball? - Number nine might shock you, but quiet millionaires think work.
is fun. If you think being a quiet millionaire is about retiring at 35 and binging Bridgerton novels on a private beach in Tulum, I'm about to crash your playa. I've met a lot of quiet millionaires, and they love rolling up their sleeves and making stuff happen. And it's one of the reasons I roll up my sleeves. They figured out what they love to do, they got really good at it, and they used that skill to serve consumers in the marketplace. You may have heard me say around here that your income is your greatest wealth-building tool, and that's one of the ways they were able to make millions, through the income from a job they enjoyed.
And here's the thing, wealth transforms work from a have to into a get to. So don't villainize work, just find a career that doesn't make you miserable and you will be massively successful. Number 10, they're crazy generous. Millionaires, even the loud ones, know that generosity is a multiplier. Now they don't give to get, but they end up getting anyways. In fact, happiness expert and my token Harvard professor friend, Arthur Brooks, recently shared this fascinating data with me. - One of the things that I've shown in my research
Going way back, this goes back 25 years of my research, is that the more you give to charity, the richer you get. And what do you find? Yeah, yeah. You find that in subsequent years, when you give a dollar to charity, on average, there's about $1.60 that comes back to you in subsequent years. So if you're hanging out with a quiet millionaire, don't be surprised if they do something weird, like tip 35% on a mediocre turkey scramble at brunch. You'll see their generous mindset and how they share their time and their ideas too. This goes beyond money. But what can I say?
It's the Quiet Millionaire way. So now that you know what to look for, expect to see quiet millionaires everywhere. Befriend them if you can and copy them if you can't. And if you're on your way to quiet millionaire status, be sure to check out this video to make sure you're not falling for America's latest silent wealth killer. It do be SPD. I'll drop a link in the description to watch that as well. Thanks for watching. We'll see you next time.